Su Wei News
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China, the world’s largest greenhouse-gas emitter, probably won’t import carbon credits for two decades as global diplomats craft a new emissions market that will increase supply, the nation’s climate negotiator said.
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Carbon-market supporters from China to California will push for emissions trading even as they prepare for the end of the United Nations Kyoto Protocol in seven years, Europe’s top climate negotiator said.
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China said it’s prepared to compromise in a debate between developing countries and Japan that could be “disastrous” for the outcome of United Nations climate talks in Cancun, Mexico.
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China this week softened its opposition to making a legally binding pledge to reduce its greenhouse gas emissions, opening the possibility for a broader international effort to fight climate change.
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China and Brazil called for developed nations to detail plans on boosting aid for climate projects to $100 billion by 2020, a measure they say is essential for United Nations climate talks to succeed.
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China said it’s “very crucial” for developed nations to provide a roadmap sketching out how they’ll reach a target of providing $100 billion a year in aid for climate projects, the nation’s envoy at UN talks said.
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European Union plans to impose curbs on carbon-dioxide emissions by international airlines as of 2012 drew fire from countries including China, Venezuela and Japan, marking a new stumbling block at the climate summit this week.
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International efforts to curb global warming are moving so slowly that that delegates from both rich nations and poorer ones are expressing frustration with the process.
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China is starting to approve emission credits after a seven-month freeze, stoking speculation a glut that’s contributed to an unprecedented decline in European carbon prices will keep growing.
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China teamed with the European Union and envoys from the bloc of 48 Least Developed Countries to dial back expectations for United Nations climate talks, indicating that there probably aren’t any new promises for aid or cuts in greenhouse gases on the horizon.
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